St. Louis-based Panera Bread says it’s planning to boost sales, stay on top of competitors, "improve service and ultimately the overall customer experience." According to a Business Insider research report, in addition to relocating its catering business, the company also plans to include adding more employees and giving current workers more hours, spending millions on new food-preparation equipment in an effort to cut wait times and eliminating "hard-to-produce" items from its menus, which it seeks to make easier to read.

The company reported profits of $43 million on revenue of $572.5 million for the third quarter, ended Sept. 24.